What’s Corning Incorporated (GLW)’s Price to Earnings Ratio?

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Corning Incorporated (NYSE:GLW) saw an upside of 0.75% to close Monday at $36.11 after adding $0.27 on the day. The 5-day average trading volume is 4,313,160 shares of the company’s common stock. It has gained $36.58 in the past week and touched a new high 2 times within the past 5 days. An average of 3,849,310 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,959,894.

GLW’s 1-month performance is 14.45% or $4.36 on its low of $31.37 reached on 12/28/22. The company’s shares have touched a 52-week low of $28.98 and high of $43.47, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, GLW has achieved 13.06% or $4.17 and has reached a new high 8 times. However, the current price is down -16.93% from the 52-week high price.

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Insider Transactions

GLW stock investors last saw insider trading activity on Aug 15.STEVERSON LEWIS A (EVP and CLAO) most recently sold 41,066 shares at $37.29 per share on Aug 15. This transaction cost the insider $1,531,437. SVP &GM, Mobile Consumer Elec., Bayne John P JR, sold 5,575 shares at a price of $36.70 on Aug 01. Then, on Jun 02, SVP & Chief Supply Chain Off. Capps Cheryl C sold 8,723 shares at a price of $35.67 per share. This transaction amounted to $311,176.

Valuation Metrics

GLW stock has a beta of 1.08. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 2.11 while the price-to-book (PB) in the most recent quarter is 2.70, with the price to cash flow ratio at 105.42.

Corning Incorporated’s quick ratio for the period ended September 29 was 0.90, with the current ratio over the same period at 1.50. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.58, while the total debt to equity was 0.60. In terms of profitability, the gross margin trailing 12 months is 33.60%. The firm’s gross profit as reported stood at $5.06 billion against revenue of $14.08 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -78.37% to $208.0 million, while revenue of $563.0 million was -170.67% off the previous quarter. Analysts expected GLW to announce $0.51 per share in earnings in its latest quarter, but it posted $0.51, representing a 0.00% surprise. EBITDA for the quarter stood at more than $650.0 million. GLW stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 17.19 billion, with total debt at $6.73 billion. Shareholders hold equity totaling $845.81 million.

Let’s look briefly at Corning Incorporated (GLW) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 70.27% to suggest the stock is trending Overbought, with historical volatility in this time period at 13.15%.

The stock’s 5-day moving average is $35.92, reflecting a +0.11% or $0.04 change from its current price. GLW is currently trading +12.74% above its 20-day SMA, +5.09% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +9.49% and SMA200 by+1.23%.

Stochastic %K and %D was 80.24% and 80.24% and the average true range (ATR) pointed at 0.71. The RSI (14) points at 66.78%, while the 14-day stochastic is at 83.40% with the period’s ATR at 0.73. The stock’s 9-day MACD Oscillator is pointing at -0.15 and 0.45 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Corning Incorporated (NYSE: GLW), Credit Suisse upgraded it to an Outperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for GLW stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate GLW as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 9 have offered a “buy” rating.

What is GLW’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $32.00 and a high of $42.00, with their median price target at $38.00. Looking at these predictions, the average price target given by analysts is for Corning Incorporated (GLW) stock is $37.58.

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